Royal Caribbean Cruises Ltd. (NYSE:RCL) had its target price lifted by analysts at Argus from $135.00 to $145.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has a “buy” rating on the stock. Argus’ price target suggests a potential upside of 16.00% from the stock’s current price.
A number of other equities research analysts also recently weighed in on RCL. Zacks Investment Research downgraded Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. J P Morgan Chase & Co raised Royal Caribbean Cruises from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $111.00 to $130.00 in a report on Thursday, July 20th. Bank of America Corporation initiated coverage on Royal Caribbean Cruises in a report on Monday, July 24th. They set a “neutral” rating and a $123.00 price objective on the stock. Goldman Sachs Group, Inc. (The) initiated coverage on Royal Caribbean Cruises in a report on Monday, July 24th. They set a “neutral” rating on the stock. Finally, BidaskClub downgraded Royal Caribbean Cruises from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $121.25.
Shares of Royal Caribbean Cruises (RCL) opened at 125.00 on Wednesday. Royal Caribbean Cruises has a one year low of $67.53 and a one year high of $126.07. The company has a market cap of $26.89 billion, a P/E ratio of 17.54 and a beta of 0.99. The company has a 50 day moving average price of $120.27 and a 200 day moving average price of $111.84.
Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, August 1st. The company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. Royal Caribbean Cruises had a return on equity of 16.71% and a net margin of 17.73%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 earnings per share. Equities research analysts expect that Royal Caribbean Cruises will post $7.44 earnings per share for the current year.
In related news, EVP Harri U. Kulovaara sold 7,580 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $119.61, for a total value of $906,643.80. Following the completion of the transaction, the executive vice president now owns 23,493 shares in the company, valued at approximately $2,809,997.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard D. Fain sold 210,706 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $115.83, for a total transaction of $24,406,075.98. Following the completion of the transaction, the chief executive officer now owns 967,741 shares of the company’s stock, valued at approximately $112,093,440.03. The disclosure for this sale can be found here. Insiders sold a total of 460,079 shares of company stock valued at $53,947,455 in the last 90 days. 15.30% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of RCL. OppenheimerFunds Inc. raised its position in Royal Caribbean Cruises by 156.1% in the 1st quarter. OppenheimerFunds Inc. now owns 247,667 shares of the company’s stock worth $24,299,000 after purchasing an additional 150,941 shares during the last quarter. Wellington Management Group LLP raised its position in Royal Caribbean Cruises by 148.2% in the 1st quarter. Wellington Management Group LLP now owns 13,379 shares of the company’s stock worth $1,313,000 after purchasing an additional 7,988 shares during the last quarter. Teachers Advisors LLC raised its position in Royal Caribbean Cruises by 36.5% in the 1st quarter. Teachers Advisors LLC now owns 321,081 shares of the company’s stock worth $31,501,000 after purchasing an additional 85,941 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Royal Caribbean Cruises by 13.2% in the 1st quarter. TIAA CREF Investment Management LLC now owns 346,530 shares of the company’s stock worth $33,998,000 after purchasing an additional 40,440 shares during the last quarter. Finally, Ngam Advisors L.P. raised its position in Royal Caribbean Cruises by 2.3% in the 1st quarter. Ngam Advisors L.P. now owns 22,178 shares of the company’s stock worth $2,176,000 after purchasing an additional 504 shares during the last quarter. Hedge funds and other institutional investors own 71.51% of the company’s stock.
About Royal Caribbean Cruises
Royal Caribbean Cruises Ltd. is a cruise company. The Company owns and operates three global cruise brands: Royal Caribbean International, Celebrity Cruises and Azamara Club Cruises (Global Brands). The Company also own joint venture interest in the German brand TUI Cruises, interest in the Spanish brand Pullmantur and interest in the Chinese brand SkySea Cruises (collectively, Partner Brands).
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